Sanasa General Insurance achieves record 53% growth in Q1

Sanasa General Insurance Company (SGIC), marked a milestone in its history by achieving record growth of 53% in the first quarter of 2023, thereby becoming the local insurance company with the highest growth rate.

Compared to the first quarter of 2022, the Company managed to record a 61% growth in the non-motor insurance sector, and a 51% growth in the motor insurance sector in the first quarter of 2023. In addition, the SGIC has been able to claim a 1% market share in the general insurance sector in Sri Lanka.

“The insurance schemes with high benefits introduced by SGIC and the friendliness, helpfulness and efficient service provided by our Company to customers during insurance claims-related processes was a strong reason behind our growth,” said SGIC Chairman, Tishan Subhasinghe.

“The fact that SGIC has been able to record the highest growth rate by surpassing many leading insurance companies in the country is truly a significant achievement. We have always put customer needs first by properly understanding them and planning and introducing the ideal insurance schemes,” SGIC’s Managing Director Indika Kiriwandeniya said.

“This was a strong reason for the record growth. We look forward to achieving even higher financial performance by further consolidating customer confidence in the future.”